Since July 2022, Algeria has taken a significant step in mining. Over 250,000 tons of iron have been extracted from the Gara Djebilet mine.
Reda Belhadj, Deputy Director-General of FERAAL, shared this update on national radio.
Belhadj stated that this iron would meet part of Algeria’s market needs. The rest is set for export, leveraging the recent rise in iron prices.
These prices have increased by 35%, now over $135 per ton.
Gara Djebilet is among the world’s largest in reserves, holding about 3.5 billion tons of iron ore.
Plans are to extract up to three million tons annually by 2025. This figure is projected to reach 50 million tons yearly by 2040.
Algeria also operates the Ouenza and Bujadra mines in Tébessa. Together, they produce two million tons of iron each year.
Algeria is developing infrastructure like the Gara Djebilet-Béchar railway and the Bechar steel complex to enhance mining.
These projects will support iron ore transport and processing.
During a late November visit to Gara Djebilet, President Abdelmadjid Tebboune urged the steel industry to begin exports. Target markets include Africa and Europe.
Approach aligns with global mining leaders like Brazil and Australia
This initiative is part of Algeria’s strategy to diversify its economy. It aims to reduce dependence on hydrocarbons, the main income source.
Discovered in 1952, Gara Djebilet is integral to this plan.
Algeria’s mining efforts mirror a regional trend in Africa, where countries are turning to natural resources for economic growth.
Algeria’s use of its vast iron ore reserves is particularly ambitious compared to other African nations.
This approach aligns with global mining leaders like Brazil and Australia. These countries have set benchmarks in iron ore production and export infrastructure.
Algeria’s focus on infrastructure development is crucial. It mirrors strategies in nations like Canada, where robust transport networks support mining.
Exporting to African and European markets positions Algeria as a potential key player in the global iron market.
This strategy aligns with global trends as countries seek to diversify their economies away from traditional resources like oil and gas.
In conclusion, Algeria’s exploitation of Gara Djebilet is a strategic move for economic diversification.
It not only boosts the national economy but also highlights Algeria’s potential in the global iron ore market.
This initiative serves as a model for resource-rich countries looking to expand their economic base.
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| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
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| SILVER | 65.59 | +1.26% | +73.05% | 64.77 | 66.98 | 64.81 | 46,406 |
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| LITHIUM | 75.20 | +1.47% | +62.95% | 74.11 | 75.80 | 75.08 | 89,275 |
| IRON ORE | 161.91 | — | +58.10% | 161.91 | 161.91 | 1 | |
| SOY | 1,184 | +3.20% | +17.05% | 1,148 | 1,199 | 1,168 | 163,179 |
| CORN | 480.50 | +10.02% | +29.34% | 436.75 | 480.75 | 459.50 | 341,248 |
| WHEAT | 655.00 | +3.93% | +29.70% | 630.25 | 657.75 | 631.50 | 128,793 |
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| SUGAR | 16.43 | -1.79% | -3.01% | 16.73 | 17.11 | 16.22 | 171,992 |
| COCOA | 5,719 | +3.18% | -34.96% | 5,543 | 5,779 | 5,574 | 26,773 |
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| COTTON | 85.03 | +2.33% | +26.78% | 83.09 | 82.90 | 81.96 | 16,546 |
| BEEF | 223.60 | -3.93% | -5.18% | 232.75 | 226.40 | 223.00 | 16,126 |
| CATTLE | 339.10 | -3.16% | -1.82% | 350.17 | 345.50 | 338.60 | 10,164 |
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